Looking to diversify beyond XYZY? The ETFs below have the lowest correlation with XYZY — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from XYZY.
Best Diversifiers for XYZY
22 ETFs have low correlation with XYZY (below 0.3), 5 of which are negatively correlated. The least correlated is CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) (Energy Equities) with a 1Y correlation of -0.18, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| CI Energy Giants Covered Call ETF Common Units (CA... | -0.18 | 0.02 | 0.02 | 73 | Energy Equities, Derivative Income | XYZY vs NXF.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.18 | — | — | 85 | Oil & Gas, Derivative Income | XYZY vs ENCL.TO | |
| Defiance Oil Enhanced Options Income ETF | -0.17 | — | — | 56 | Derivative Income | XYZY vs USOY | |
| Hamilton Energy YIELD MAXIMIZER ETF | -0.16 | — | — | 70 | Energy Equities, Derivative Income | XYZY vs EMAX.TO | |
| Hamilton Utilities YIELD MAXIMIZER ETF | -0.08 | 0.13 | 0.13 | 58 | Derivative Income, Utilities Equities | XYZY vs UMAX.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XYZY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XYZY and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Orchid Island Capital, Inc. | 0.29 | — | — | 61 | Real Estate |
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